Finland-based stainless steel producer Outokumpu has announced its guidance for the first quarter of this year.
Accordingly, the company has downgraded its expectations for the given period due to the political strike aimed against the Finnish government. Most of Outokumpu's stainless steel and ferrochrome operations along with Torino port will not be operational for two weeks during March 11-25 due to the strike and the company's plants in other countries are expected to be indirectly affected by material flow interruptions. Stainless steel deliveries are forecast to be lower than expected and remain at a similar level compared to the fourth quarter of last year.
In the meantime, the company estimates that its adjusted EBITDA will remain unchanged or decline compared to the fourth quarter of last year.
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